Conventional gas pressure regulators used in natural gas powered systems, such as those employed in vehicles, typically include a housing having an inlet port, an outlet port and a gas flow path that is created within a regulator body or housing between the inlet and outlet ports. The delivery pressure of gas is regulated using a sensing element, such as a diaphragm, which is typically spring loaded and associated with a valve, the latter being configured to open and close based on demand. Within the housing, a hollow piston pressure sensing element, having a pair of opposing open ends, is disposed in a biased state relative to a defined inlet through which gas flows to the outlet port via a gap or spacing provided between the end of the hollow piston and a fixed valve seat. In these pressure regulators, the properties of the biasing spring acting on the piston can be adjusted in order to adjust the set point pressure of the regulator. These adjustments, which are typically done at the manufacturing level, are based upon buildups in tolerancing of the components of the regulator. As such, there is no true capability to provide external pressure set point adjustability for these regulator designs.